I use onepath for units/apartments and real insurance for houses – no issues to report with either.

Cheers

Jamie

danfresh wrote:

Jamie – I hadn't even thought of that. How well do the tax deductions stack up? And what if i reside in the house for 10 years (just an example)? If I had to wait that long to start claiming the interest on the loan as a tax deduction would it still be a solid strategy? If I liked the house and wanted to stay in it for a while,…[Read more]

Todd Giles wrote:

If you had a property that is currently cashflow positive (positively geared), can you utilize a depreciation schedule to further increase the cashflow?

Yep.

I personally haven't seen a deprecation schedule that hasn't paid for itself within the first year or two irrespective of the properties age so well worth it…[Read more]

I use google chrome and it runs nice and fast on the PC and laptop.

Nice one Terry re Internet Explorer  – haha.

Cheers

Jamie

DWolfe wrote:
Hi Alfresco,

Just pay to get it done. Most managers can set up a yearly clean, add it to the maintenance etc.

Good advice.

Besides, it's a small price to pay for peace of mind.

Cheers

Jamie

Hi Dan

Welcome aboard.

Personally, I would look to use a smallish deposit on your first given that it's going to become an IP in the future. I'd also set up the loan as interest only with an offset – rather than P&I.

There's a few reasons behind this.

Firstly, when it becomes an investment property, the interest on the loan will become a tax…[Read more]

Depending on the state you may be required to pay land tax so you'll need to advise the state revenue office that its a rental.

cheers

Jamie

Hiya

welcome aboard.

I wouldn't use the cash in your offset to fund your IP purchases, instead – you could release equity against your PPOR to cover the deposit and purchase costs for each IP. This way, the entire IP debt will be deductible and you get to retain your cash as a contingency fund.

You really need to get a decent accountant and…[Read more]

Too small and doesn't seem like the ideal location – next to a maccers.

It sounds like it will be a difficult property to sell in the future which indicates CG prob won't be the best.

cheers

jamie

PLC wrote:
 as long as they stick a decent interest rate in front on them, the client is happy without fear of what may happen in the long term as they don't know better. 

That's part of the issue.

Some people are so driven by the "lower rate" that they lose focus of the bigger picture.

A $20 a month saving because of a 0.1% discount now can…[Read more]

Qlds007 wrote:

Settlement was next week and he phoned yesterday to say that he has decided to stay with CBA as they have now offered him a further 0.1% discount and a promise that the loans are now miracliously uncrossed.  Trouble is nothing has changed and he just can't see it.

That's frustrating. 

So in the end, the client has decided to…[Read more]

Hi investor_today

Welcome aboard

It's possible to have the two properties with the same lender without them being cross collaterised.

It just all comes down to how the banker/broker structures the loans.

Most bankers (and brokers for that matter) will simply cross up your loans because a) they don't know any better and b) it's quick and easy…[Read more]

If you're able to use a lawyer from interstate – then I'd just use Terry W from here.

I'm sure he ticks all the boxes.

Cheers

Jamie

Grays online is fantastic.

We've bought a few things from them – the most recent purchase being a $2.5k coffee machine which was marked down to $800.

Cheers

Jamie

zehra wrote:
IMB offers 5.49 for 1,2,or 3 yrs fixed is this still bit high ? I dont really have much choice I have to stay with them ( I think )
and on my last statement it shows I am paying  5.860

Why do you have to stay with them?

It's not high – but there are betters out there.

Cheers

Jamie

lila77 wrote:

My issue is that they're on 1 title but the land is 1300sqm. The area is being renewed with many of the maisonettes knocked down and next door there is four houses built on the one block. I would have to borrow over 80%lvr.

Not usually an issue arranging finance for a few securities on the one title above 80% LVR

Cheers

Jamie

Hiya

Like any profession – there's good and bad ones. 

Cheers

Jamie

Hi there

I'm probably stating the obvious but the large stores like Bunnings and Masters are generally pretty cheap with this sort of stuff.

Cheers

Jamie

9GoldFisk wrote:
Hello Jamie,

Thanks again for your comment….so to recap….if a deposite of say 10% was required  at a lend of 90%….would you say…the 60K represents the actual 10%? Therefore the loan would be…600K ….??

Regards,

Roezetta

Hi goldfisk

You need to account for purchase costs as well – stamp duty being the…[Read more]

Hi again goldfisk

Yes, the $60k would be used to cover the deposit/costs on the next purchase.

In regards to the second part of your question – it's impossible to comment on your specific situation without knowing the finer details of it.

Cheers

Jamie